Buying a Home in Hurricane Country

Buying a house in a hurricane zone isn't as big of a risk as it might sound.

Every year during hurricane season, the country holds its breath as a new hurricane either comes close to American shores, loses its power before it hits land or ends up causing destruction of some kind.

Unfortunately, large parts of the United States are located in areas that find themselves in the path of these hurricanes on a regular basis. If you're thinking about buying a home and it's in one of these areas, then you'll want to make sure that you follow these tips.

Find out When the House was Built

Building codes and construction guidelines have gotten stricter as the years have passed. These codes and guidelines vary from location to location, but they all take into account the area's susceptibility to natural disasters, such as hurricanes. This means that while newer homes are more likely to withstand the force of a hurricane due to the way they were built, older homes may not have been built when these codes and guidelines in place, making them more vulnerable to hurricane damage. A professional home inspector can inform you as to whether the property you're looking at meets current building codes and regulations.

Find out How Much Homeowner's Insurance Will Cost

Homeowner's insurance is something that's required by all lenders if you're taking out a mortgage. However, the more at risk the house is to being damaged in some way, the more your monthly premiums will cost.

If you're looking at a home that's located in a hurricane zone, contact your insurance agent and request a quote. Typically, the closer the property is to the water, the more vulnerable it is to potential hurricane damage, resulting in higher insurance costs.

Find out if You are in a Flood Zone

One of the major causes of hurricane related damage is flooding. If you're moving to an area that's often in the path of hurricanes, you'll want to find out if the house you're buying is located in a flood zone. Flooding can cause massive damage to not only your property but to your belongings as well.

Unfortunately, homeowner's insurance does not cover flood damage - something that many homeowners don't realize. You'll need to purchase additional flood insurance to provide coverage for such a situation.

If you are in a high-risk flood zone, you can expect flood insurance to cost a lot more. However, if only part of your property is in a flood zone, flood insurance might cost a little less.

Find out if You Need Additional Insurance Riders

If you're in a hurricane zone, then flood insurance may not be the only additional rider that you need to purchase on top of your homeowner's insurance. Hurricanes can cause damage in many ways, and flooding is only one of them. If the house you are buying is located by the ocean, there's a good chance you'll need to add several other riders to your insurance policy.

In addition to flood coverage, you may need excess flood coverage (which provides additional flood coverage for if you're in a high-risk flood zone) and wind coverage as well. To find out what type of insurance policy riders you should purchase and how much they will cost, contact your insurance agent. It's worth noting that depending on your location, purchasing these riders may not be an option but a requirement.

Consider the Costs of Safety Upgrades

Even if you purchase all the insurance you need, you may want to consider making safety upgrades if you're in a high-risk area. This is especially true since flood insurance doesn't provide total coverage. For example, below-ground areas (such as basements), belongings located in below-ground areas, money, important papers, landscaping, swimming pools and home improvements are often not covered by flood insurance

Investing in safety upgrades can help to prevent major damage from occurring during a hurricane. For example, installing metal straps or clips that connect the roof to the exterior walls in the attic can help strengthen the house. The installation of storm doors and windows can also add another layer of protection. While these safety features can cost a lot of money, many insurance companies will provide loss-mitigation discounts on your homeowner's insurance for making these upgrades.

Buying a house in a hurricane zone isn't as big of a risk as it might sound. The odds of a hurricane going through your exact area and being powerful enough to do serious damage to your home are generally slim, and if you do your research, buy the proper insurance and take the necessary safety precautions, your house will be safer and you'll be more financially protected if it does end up being in the path of a hurricane.